As of September 30, 2024, Dynamic Shares Trust reported significant financial metrics for its Dynamic Short Short-Term Volatility Futures ETF. The total assets of the ETF stood at $5.26 million, with shareholders' equity at $5.23 million, reflecting a net asset value (NAV) per share of $26.17. This represents a decline from the previous quarter, where the NAV was $30.44, indicating a percentage change of -14.03% for the three-month period.
Investment income for the three months ended September 30, 2024, increased to $78,791, compared to $50,901 for the same period in 2023. However, total expenses also rose significantly to $47,356 from $21,149 year-over-year. The net investment income for the latest quarter was $31,435, slightly up from $29,752 in the prior year.
The ETF experienced substantial realized losses, reporting $(1.07 million) for the three months ended September 30, 2024, in stark contrast to a realized gain of $311,010 in the same period of 2023. This trend continued over the nine-month period, with a net realized loss of $(532,487) compared to a gain of $1.20 million in the previous year. The net increase (decrease) in net assets resulting from operations for the three months ended September 30, 2024, was $(1.08 million), compared to a gain of $145,513 in 2023.
The Fund's strategic focus remains on short positions in VIX Futures Contracts, with an expected notional exposure ranging from -0.1 to -0.5. The Fund's management fee is set at 1.85% per annum of average daily net assets, although it was temporarily reduced to 0.50% from April 2022 to April 2023.
As of September 30, 2024, the Fund's cash position improved to $3.78 million, up from $2.42 million a year earlier. The Fund also reported unrealized depreciation of $17,190 related to open futures contracts. The average notional value for the three months ended September 30, 2024, was $(536,748), a decrease from $(1.74 million) in the same period of 2023.
Dynamic Shares Trust transitioned its listing from NYSE Arca to the Chicago Board Options Exchange (Cboe BZX) on September 30, 2024, as part of its ongoing operational strategy. The Trust continues to operate under the Commodity Exchange Act and is classified as a commodity pool, not registered under the Investment Company Act of 1940.
About Dynamic Shares Trust
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